Different Types of Gold Custodians
There are a number of different options available when it comes to gold custodians. The most popular and common option is an individual retirement account with a bank or other financial institution as the custodian. This option is usually the most effective and convenient option for most people since it allows them to invest in gold without having to worry about paying a commission to a gold custodian. Most banks and financial institutions offer this type of service. Individual retirement accounts can also be purchased independently at a broker or through the internet by anyone with extra money to spare over here. Gold depository accounts are another option that many investors turn to when they are looking for the most opportunity to invest in precious metals. Depository options come in two forms, a full service depository or a self-service depository. With a full service depository, the investor will have access to the same level of financial institutions services as those offered by investment companies with an independent license. Self-service depository options give the investor more independence but do not have the same level of support from the financial institutions as a full service option. This type of option can work out cheaper, especially if the investor decides to open an account on their own. Another option that investors have is opening a gold vault. This option requires the investor to open an account with a financial institution and deposit cash into the vault in order to hold their gold assets. The advantage of this option is that the physical assets held within the vault are safe from theft. Although, this option may be less expensive than investing directly into gold bullion and certificates, it is still quite effective and does offer a number of different options.